Foreign National Homebuyers: How to get your Loan Started!
By David A. Podgursky • Jul 20th, 2007 • Category: Foreign NationalFlorida is a HOT market for Foreign National’s to purchase both Second Homes and Investment Properties. This is a great time and a great market for their purchases. With the weak dollar and the strong Euro and British Sterling, European investment in Florida is at an all time high!
A Foreign National Loan is a very simple process if you have your documentation in place. Here is a great checklist to use when you want to get the ball rolling on that process.
Documents needed for a Foreign National Loan Program:
1) Three Personal Reference Letters from Country of Origin. Letter must be from a lending institution and include the following:
- Credit was extended to the Borrower
- Borrower is in Good Standing
- High Balance
- Current Balance
- Payment Amount
- Payment History
2) Two Months’ Bank Statements from a US Based Bank.
3) Employment Verification Must Include the Following:
- Must be on company letterhead from Country of Origin.
- Must state Income for for prior 2 years and current income.
- Length of Employment
- Position of Borrower
- Type of Business
For Self Employed Borrowers, please include:
- Percentage of Ownership in company
- Address of business for the past 2 years.
4) Copy of Visa (if applicable)
5) Copy of Passport
All letters must be translated into English by a certified translator.
For more information about Foreign National Loans, please check the following links:
- Florida Mortgage | Foreign National Homebuyers - Visa Waiver Program
- Florida Mortgage | Foreign National Homebuyers - “Dollar weakens on Subprime Woes” is good news for you!
- Florida Mortgage Loans | Foreign National Homebuyers: Seasoning Funds in US Banks
- Florida Mortgage | Foreign National Homebuyers: Europe has come calling!
More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
The Mortgage Go To Guy
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida
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David A. Podgursky is a Broker Associate for Boca Executive Realty - www.bocaexecutiverealty.com. As a resident of Lake Worth Florida, David succeeds in assisting Buyers and Sellers with their Residential and Commercial Real Estate needs in Boynton Beach, Lake Worth, Greenacres, Delray Beach and Boca Raton Florida.
David is a Florida Licensed Real Estate Broker and Mortgage Broker making him uniquely capable of offering Full Service Real Estate Services to his clients.
From assisting a first time buyer in determining how much they can afford to analyzing an investment for a high end investor to helping a baby boomer decide the best property for their retirement in Sunny Florida, David Podgursky is the Boynton Beach/Lake Worth Realtor to call first!
(561) 504-6949 cell * davidp@bocaexecutive.com
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David this a great looking site, I am glad that you provided a link to it from ActiveRain.